The Next Generation Sequencing (NGS) Market is projected to grow significantly by 2025, with comprehensive analyses and forecasts based on various factors such as product type, service offerings, application areas, and end-user categories. In our research, we have categorized the NGS market into distinct segments: products, services, applications, and end-users. The product category includes platforms, services, and consumables. Within the platform segment, we further differentiate between Hiseq, Miseq, Solid, ION Torrent, Pacbio Rs II, and Sequel Systems. The services segment is divided into sequencing services and data management & analysis services. Consumables are classified into sample preparation consumables, library preparation & target enrichment kits & reagents, and quality control kits & reagents. The services offered include genome sequencing, exome sequencing, resequencing & targeted sequencing, along with other related services. The applications of NGS discussed in this report encompass diagnostics, drug discovery, precision medicine, and additional uses. The end-users of NGS are categorized into academic & research institutions, pharmaceutical & biotechnology companies, hospitals & clinics, and other sectors.
By the end of 2025, the NGS market is anticipated to reach approximately US$ 26,501.2 million, reflecting a compound annual growth rate (CAGR) of 21.1% from 2018 to 2025, up from US$ 5,731.3 million in 2017.
The expansion of the NGS market can be largely attributed to the significant reduction in sequencing costs. For instance, the expense of sequencing was around US$ 10 billion in 2006, which plummeted to about US$ 5,000 in 2012. Key industry players, including Roche and Illumina, have developed innovative sequencing methods that have further decreased the costs involved. However, the market faces challenges related to genetic data privacy, which poses a considerable restraint on the growth of NGS. A notable concern is the targeted marketing of pharmaceuticals based on genetic information, as well as the sale of genetic data to third parties. For example, 23andMe has provided access to its genetic database to approximately 13 pharmaceutical companies. Such privacy risks associated with genetic data could hinder market growth in the future. Nevertheless, advancements in technology have enabled companies to conduct sequencing within a single day at a cost of around $15 per sample, facilitating the efficient delivery of targeted and whole genome data for thousands of samples at an affordable price.
North America has emerged as a region with significant growth potential for the NGS market. Factors contributing to this growth include the increasing investment from market players in the United States and Canada, funding and grants from the National Institutes of Health (NIH) in the U.S., and the rising incidence of cancer in Mexico, all of which are expected to drive the NGS market forward in North America.
The NGS market is characterized by a mix of established companies and emerging players, including notable organizations such as PerkinElmer, Inc., Oxford Nanopore Technologies, Ltd., Beijing Genomics Institute, F. Hoffmann-La Roche AG, Eurofins Scientific, Agilent Technologies, Qiagen N.V., Thermo Fisher Scientific, Macrogen, Inc., and Illumina, Inc., among others.